China’s video surveillance equipment maker Zhejiang Dahua Technology said that it and its subsidiaries have agreed to terminate or exit five projects they signed with local governments in China’s Xinjiang region, a stock exchange filing showed on Monday.
Some of the projects, awarded between 2016 and 2017, have been terminated in advance, while others were still in operation, Dahua said in a filing to the Shenzhen Stock Exchange.
The company will cease operating the projects and proceed with asset disposal and debt resolution works, it said. Dahua did not give a reason for the withdrawal.
The US added Dahua and seven other tech firms to its trading blacklist in 2019 for allegedly being “implicated” in “repression and hi-tech surveillance” against Uygurs and other members of Muslim minorities in Xinjiang.
Dahua had said the US decision lacked “any factual basis.”
